With a revival in demand for IT services, the global security software revenue is expected to grow by 11.3 per cent to cross $16.5 billion in 2010, says the research firm Gartner.
Revenues from security software such as antivirus and anti-phishing solutions stood at $14.8 billion in 2009.
Gartner said though the economic downturn slowed security revenue to seven per cent growth in 2009, companies have indicated an intention to give priority to security budgets.
"Most segments of the security software market will continue to grow over the next few years...Overall, security will remain one of the fastest-growing areas within the enterprise software market," Gartner Principal Research Analyst Ruggero Contu said in a statement.
The consumer segment is expected to remain the largest segment with 2010 revenue projected to reach $4.2 billion in 2010 from $3.9 billion in 2009.
The enterprise market is the second largest segment with revenue on pace to reach $three billion in 2010, up from $2.9 billion in the previous year, Gartner said.
The research firm said the evolving threat landscape, along with increasing demand (for compliance requirements) by companies continues to benefit the security software market.
"The growing sophistication of the threat landscape - from malwares to socially engineered trojans (which trick end users into downloading and executing malicious files) -- will push organisations and consumers to invest in end-point security products in coming years," he said.
